The Indonesia stock market ended the four-day winning streak in which it had advanced more than 170 points or 2.7 percent. The Jakarta Composite Index now rests just above the 6,655-point plateau although it’s expected to rebound on Thursday.
The global forecast for the Asian markets is cautiously optimistic on encouraging corporate results and rising crude oil prices. The European and U.S. markets mostly saw mild upside and the Asian bourses are tipped to follow suit.
The JCI finished slightly higher following mixed performances from the financial shares and resource stocks.
For the day, the index rose 7.22 points or 0.11 percent to finish at 6,633.34 after trading between 6,573.34 and 6,680.01.
Among the actives, Bank CIMB Niaga advanced 0.93 percent, while Bank Negara Indonesia surrendered 1.82 percent, Bank Central Asia dropped 1.29 percent, Bank Mandiri shed 0.35 percent, Bank Rakyat Indonesia collected 1.65 percent, Indosat spiked 3.59 percent, Indocement retreated 1.30 percent, Semen Indonesia tumbled 1.68 percent, Indofood Suskes skidded 1.09 percent, United Tractors sank 0.78 percent, Astra International rose 0.40 percent, Energi Mega Persada tanked 2.42 percent, Astra Agro Lestari added 0.48 percent, Aneka Tambang rallied 2.07 percent, Timah gained 0.88 percent, Bumi Resources declined 1.14 percent and Bank Danamon Indonesia and Vale Indonesia were unchanged.
The lead from Wall Street is mostly positive as the major averages opened higher on Wednesday. The Dow and S&P 500 remained well in the green and finished that way, while the NASDAQ hugged the unchanged line and ended slightly in the red.
The Dow climbed 152.03 points or 0.43 percent to finish at 35,609.34, while the NASDAQ dipped 7.41 points or 0.05 percent to close at 15,121.68 and the S&P 500 rose 16.56 points or 0.37 percent to end at 4,536.19.
The continued strength on Wall Street came as traders reacted positively to another batch of largely upbeat corporate earnings news.
Traders largely shrugged off the Federal Reserve’s Beige Book, which noted the pace of U.S. economic growth has recently slowed due to supply chain disruptions, labor shortages, and uncertainty around the Delta variant of COVID-19.
The Fed also said employment increased at a modest to moderate rate in recent weeks, as demand for workers was high, but labor growth was dampened by a low supply of workers.
Crude oil prices climbed higher on Wednesday after data showed a drop in U.S. crude inventories last week, while increased demand also supported prices. West Texas Intermediate Crude oil futures for December ended up by $0.98 or 1.2 percent at $83.42 a barrel.
Higher Open Tipped For Indonesia Stock Market
2021-10-21 02:00:10
